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Visa and @UK PLC to Launch cloudBuy

Sep 06, 2013

RNS Number : 3691N
@UK PLC
06 September 2013

 

Embargoed for release at 7am
6 September 2013

 

 

@UK PLC

("@UK" or the "Company")

Visa and @UK plc to Launch cloudBuy, Asia Pacific's First B2B Global e-Marketplace Solution

Organisations can strengthen and streamline e-commerce procure-to-pay processes

 

@UK PLC (AIM:ATUK.L), the cloud eCommerce marketplace, is pleased to announce that  governments and enterprises in Asia Pacific now have an easier way to manage the procurement process with cloudBuy, the region's first business-to-business (B2B) integrated e-marketplace solution.

An exclusive partnership between Visa and @UK PLC, one of the largest e-commerce marketplace solutions, cloudBuy brings together an ecosystem of suppliers and buyers, regardless of geography, to offer cloud-based real-time integrated services thereby enabling a safe, controlled and convenient online purchasing experience. Visa is the only payment card accepted on cloudBuy

"Many organisations in Asia Pacific are looking at ways to be more efficient by automating current procure-to-pay processes. This partnership with @UK PLC is timely, as we bring cloudBuy to the region, offering organizations a solution that addresses their needs," said Olivia Leong, Regional Head of Enterprise & Government Payment Solutions, Commercial Products, Visa, Asia Pacific, Central Europe, Middle East and Africa

"The partnership combines the strengths of Visa's issuer relationships, a proven network and a track record of bringing innovative payment solutions to the market, with @UK PLC's foresight in developing e-commerce and cloud computing solutions," she added.

Key features of cloudBuy include:

  •      First B2B procurement solution with complete pricing accuracy, which improves efficiency by encouraging take-up of corporate cards in a B2B environment
  •      Spend insight solutions which cover price variance, benchmarking, spend analysis and supplier rationalization
  •      Marketplace facilities that span contract pricing to requisition approval processes in a controlled ecosystem
  •      Reporting tools that cover purchasing data and analytical tools including CenSA carbon analysis.

"This multi-faceted partnership with Visa is an extension of our collaboration in the UK since 1999. It now allows us to expand our cloud-based e-marketplace value proposition to organizations globally not previously available. We will be able to resolve the security, efficiency and pricing issues that is prevalent in legacy systems, hence ensuring that we remain steadfastly committed to helping organizations innovate purchasing processes and achieving their strategic business goals," said Lyn Duncan, CEO of @UK PLC.

"More than 44 million items have been sold through this system to over 30 million visitors.  Today there are 4.7 million items on sale to a 1 million strong community of buyers and suppliers, and over US$500 billion of spend analyzed," Duncan added.

 

Enquiries:

@UK PLC
Ronald Duncan, Chairman
Tel: 0118 963 7000


Westhouse Securities Limited
Tom Griffiths
Tel: 020 7601 6100


Newgate Threadneedle
Caroline Evans-Jones/Alex White
Tel 020 7653 9850

 

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 30,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit corporate.visa.com

About @UK plc

@UK is Europe's leading transactional Cloud Platform with over 1 million users. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading.  The technology is unique in the B2B market, in that it delivers the B2C internet shopping experience in a business environment.  The platform has been rebranded to cloudBuy.com for global expansion with Visa and partner banks.  The platform is PCI DSS accredited, providing secure, integrated financial transactional capability, delivering savings to both the buyer and the supplier through greater accounts payables accuracy, reduction of manual processes and elimination of paper. @UK  also provides SpendInsight developed to recognize, match and classify products and services,  providing  buyers with greater visibility to spend data, and supports the identification of cashable savings. For more information, visit www.cloudbuy.com


This information is provided by RNS

The company news service from the London Stock Exchange